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Hi Everyone,
Those of you who have been in this industry long enough have probably heard of the Consensus Effect, which is the theory that prices are likely to rally during or directly after the annual CoinDesk Consensus conference in New York.
The idea is that a gathering of several thousand people speed networking, sharing ideas and closing deals can be a boon for grassroots growth in the industry.
It may seem far-fetched, but so far, it's been working. This graph shows the 30-day periods leading up to and following the conference between 2015 and 2019.
Note that 2019 is missing the 30 days after on this graph, but the price did indeed skyrocket after the event, meaning that 4 out of 5 years, the theory has held strong. |
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This year however, it seems the Consensus conference that passed by quietly last week has been overshadowed by a much larger event.
If you're reading this, you probably know what I'm talking about. |
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The venue only holds 10,500, so it's likely a lot of people won't make it through the doors, but apparently, Miami International Airport has already changed the signs on the baggage claim belts to welcome all the visitors.
This will easily be the largest crypto gathering in history.
Very sorry to those of you who won't be able to make it, I didn't mean to rub it in.
I just wanted to state the potential effects on price.
For those who are coming, I'll be landing tomorrow morning, so hit me up!!
Stay safe out there! |
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Mati Greenspan Analysis, Advisory, Money Management |
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